Stifel Nicolaus Downgrades Keryx Biopharmaceuticals Inc. (KERX) to Hold

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Keryx Biopharmaceuticals Inc. (NASDAQ:KERX) was downgraded by stock analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a report released on Tuesday.
Several other research analysts have also commented on KERX. Zacks Investment Research lowered shares of Keryx Biopharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, April 27th. FBR & Co reiterated a “buy” rating and issued a $13.00 price target on shares of Keryx Biopharmaceuticals in a research note on Friday, April 29th. Cowen and Company reiterated a “hold” rating on shares of Keryx Biopharmaceuticals in a research note on Saturday, April 30th. Morgan Stanley reiterated a “hold” rating on shares of Keryx Biopharmaceuticals in a research note on Saturday, April 30th. Finally, Maxim Group reiterated a “buy” rating and issued a $9.00 price target (up previously from $7.00) on shares of Keryx Biopharmaceuticals in a research note on Friday, July 8th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $7.75.
Keryx Biopharmaceuticals (NASDAQ:KERX) traded down 5.47% during mid-day trading on Tuesday, hitting $4.32. 2,232,709 shares of the stock were exchanged. The firm’s market cap is $457.47 million. Keryx Biopharmaceuticals has a 52-week low of $2.80 and a 52-week high of $7.80. The company has a 50 day moving average price of $4.90 and a 200 day moving average price of $5.36.

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Keryx Biopharmaceuticals (NASDAQ:KERX) last posted its quarterly earnings data on Monday, August 1st. The biopharmaceutical company reported ($0.42) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by $0.14. Keryx Biopharmaceuticals had a negative net margin of 590.50% and a negative return on equity of 172.04%. The business earned $9.30 million during the quarter, compared to analysts’ expectations of $8.60 million. During the same period in the previous year, the business posted ($0.26) EPS. The company’s revenue for the quarter was up 272.0% compared to the same quarter last year. On average, analysts anticipate that Keryx Biopharmaceuticals will post ($1.24) EPS for the current year.
In other news, CFO Scott A. Holmes sold 4,935 shares of Keryx Biopharmaceuticals stock in a transaction on Friday, July 29th. The shares were sold at an average price of $7.36, for a total value of $36,321.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.08% of the stock is currently owned by insiders.
Several institutional investors have made changes to their positions in the stock. Rice Hall James & Associates LLC boosted its position in shares of Keryx Biopharmaceuticals by 1.3% in the second quarter. Rice Hall James & Associates LLC now owns 912,830 shares of the biopharmaceutical company’s stock worth $6,043,000 after buying an additional 11,767 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Keryx Biopharmaceuticals by 1.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 75,108 shares of the biopharmaceutical company’s stock worth $351,000 after buying an additional 874 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Keryx Biopharmaceuticals by 5.4% in the first quarter. Geode Capital Management LLC now owns 699,895 shares of the biopharmaceutical company’s stock worth $3,268,000 after buying an additional 36,038 shares during the last quarter. Royce & Associates LP boosted its position in shares of Keryx Biopharmaceuticals by 32.2% in the first quarter. Royce & Associates LP now owns 451,725 shares of the biopharmaceutical company’s stock worth $2,110,000 after buying an additional 110,000 shares during the last quarter. Finally, BlackRock Group LTD boosted its position in shares of Keryx Biopharmaceuticals by 35.1% in the first quarter. BlackRock Group LTD now owns 48,223 shares of the biopharmaceutical company’s stock worth $225,000 after buying an additional 12,536 shares during the last quarter. 61.13% of the stock is currently owned by institutional investors and hedge funds.
Keryx Biopharmaceuticals Company Profile
Keryx Biopharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on the development of products for the treatment of renal diseases. The Company’s product Auryxia (ferric citrate), also known as Riona in Japan and Fexeric in Europe, is an oral, absorbable iron-based compound, which is indicated for the control of serum phosphorus levels in patients with chronic kidney disease (CKD), on dialysis.

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